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Dubai slips on property and banking shares, Abu Dhabi also down
June 19, 2018--Dubai's main index fell almost 1.5 percent on Tuesday as concerns over trade tensions between the United States and China ricocheted through emerging markets.
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ADX gains 81.5 points Thursday
June 14, 2018--The banks sector increased by 2.34%
The Abu Dhabi Securities Exchange's (ADX) general index rose 81.53 points, or 1.76%, to close at 4,714.73 points on Thursday.
The ADX's trading volume reached 53.6 million shares, while the market's liquidity amounted to AED 187.78 million.
Egypt amends some provisions of listing, delisting rules for EGX
June 14, 2018--The board of directors of the Financial Regulatory Authority (FRA) issued a decision to amend some of the provisions of the rules for new listings on the Egyptian Exchange (EGX), as well as rules for continuation and delisting, through adding rules stipulated in article 6 of Law 95 of 1992.
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MIDEAST STOCKS-Abu Dhabi, Qatar rise, but Dubai sags as Eid holiday begins
June 14, 2018--The Abu Dhabi stock exchange ended higher on Thursday, helped by shares in sector majors First Abu Dhabi Bank (FAB) and Etisalat, and neighbouring Dubai ended lower as property shares weighed on the exchange.
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MIDEAST STOCKS-Dubai gains on demand for bank stocks, Abu Dhabi falls
June 13, 2018--Dubai stocks opened higher in response to selective buying in financial services companies such as Dubai Islamic Bank, but other Gulf markets were mixed with Abu Dhabi falling on profit taking in First Abu Dhabi Bank, while Qatar was flat.
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IMF Working Papers-Fiscal Adjustment in the Gulf Countries: Less Costly than Previously Thought
June 13, 2018--Summary:
This paper estimates fiscal multipliers for the Gulf Cooperation Council (GCC) countries. Using OLS panel fixed effects on a sample of six countries from 1990-2016, results indicate that GCC fiscal multipliers have declined in recent years which would make the on-going fiscal consolidation less costly than previously thought.
Though both capital and current multipliers have declined in recent years, capital multipliers are larger than current multipliers, which implies that reducing (less productive) current spending will help limit the adverse impact of such measures on growth.
TASE Launches New Index-the Tel Bond-Dollar Index
June 10, 2018--The Index Will be comprised of Dollar-Linked Corporate Bonds Listed on TASE
The board of directors of the Tel-Aviv Stock Exchange (TASE) approved (June 7th, 2018) the launch of a new corporate bonds index-the "Tel Bond-Dollar Index".
The index will consist of dollar-linked corporate bonds listed on TASE. Following the launch of the new index, TASE will be calculating 29 Tel Bond indices, 10 of which were launched in 2017 and 6 additional indices were launched since the beginning of 2018.
The new index was formulated by TASE to expand and diversify the products traded on TASE.
UK pushes forward with 'Aramco' listing rule
June 8, 2018--Britain's markets watchdog will introduce new premium listing rules next month aimed at attracting sovereign backed companies such as Saudi Aramco.
The UK Financial Conduct Authority (FCA) said it had addressed investor concerns with clauses that relate to disclosure and the appointment of independent directors.
MIDEAST STOCKS-Gulf slips early on, Dubai down despite new economic steps
June 7, 2018--Energy and petrochemical shares helped to drag down stock markets across the Gulf early on Thursday, with Dubai gaining little benefit from the announcement of fresh economic stimulus steps.
Dubai's index was down 0.4 percent as amusement park operator DXB Entertainments, by far the most heavily traded stock, sank 2.9 percent.
ETFGI reports that assets invested in ETFs/ETPs listed in Middle East and Africa decreased by US$343 Mn in April 2018
June 5, 2018--ETFGI, a leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, reported today that assets invested in ETFs and ETPs listed in Middle East and Africa decreased by 1.03% during April 2018 to reach US$37.92 Bn at the end of the month. (All dollar values in USD unless otherwise noted.)
Highlights
Assets invested in ETFs/ETPs listed in Middle East and Africa saw net outflows of $365 Mn during April 2018, to reach $37.92 Bn
Year-to-date, ETFs and ETPs listed in Middle East and Africa saw net outflows of $1.72 Bn
